Introduction to the Book, Family Firms, and Internationalisation
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Family firms (FFs) comprise a dominant firm population and economic force globally. It is a distinctive firm type owed to the involvement of family members in both ownership and management. Economic and noneconomic (socioemotional wealth—SEW) goals are often intertwined. This affects strategic decision-making. Internationalisation, as a highly strategic decision and a process involving potential risks and rewards, is often approached differently than in non-FFs. In a world where networks and networking are increasingly relevant for firms to conduct and expand their businesses, FFs provide an interesting context, wherein internally strong relationships may both facilitate and restrain international networking. In this chapter, we introduce the distinctive nature and internationalisation of FFs. The seminal theories in FF and internationalisation research are presented, with a special focus on the roles of networks. Additionally, we briefly introduce the empirical aim and contents of this book.
KeywordsFamily firm Internationalisation Network Social capital Socioemotional wealth
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